NEW YORK, April 27, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Synchronoss Technologies, Inc. ("Synchronoss" or the "Company") (NASDAQ: SNCR). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Synchronoss and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 27, 2017, pre-market, Synchronoss announced the departure of both the Company's Chief Executive Officer Ronald Hovsepian and Chief Financial Officer John Frederick, advising investors that both would "pursue other interests." In addition, Synchronoss disclosed that the Company "expects total revenue for the first quarter of 2017 to be $13 million to $14 million less than the company's previously announced guidance" and that "[o]perating margins are expected to be 8% to 10%, which are less than previously announced guidance."
On these announcements, Synchronoss's share price has fallen as much as $12.10, or 49.15%, during intraday trading on April 27, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP